The judge and lawyers trying to resolve a dispute between owners of the Cincinnati Reds huddled in a private conference in court today in a renewed controversy between Reds majority owner Marge Schott and limited-partner owner Carl A. Kroch.

The hearing results from a lawsuit Kroch filed against the Reds and Schott, alleging that they have refused to allow him to inspect or copy financial and cash-flow records of the ballclub and its owning partnership.Kroch, founder of a Chicago-based bookstore chain, filed the lawsuit on Oct. 3 in Cincinnati.

Kroch has complained about what he calls a lack of cash distributions to himself and other Reds limited partners, business transactions by the team which supposedly favor Schott's car dealerships, and the club's refusal to take advertising from other car dealers. Schott has denied the allegations.